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The President of China Xi Jinping praised blockchain technology during an open speech this May 28th.
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He also pointed out to the technology as a potential one in the country’s future plans.

Xi spoke at the Chinese Academy of Sciences’ nineteenth annual conference in Beijing. During the conference, Xi included blockchain as an example of a “new generation” of technologies that is apparently delivering “breakthroughs”.

As he stated:

“Since the 21st century began, global scientific and technological innovation has entered an unprecedented period of intensive activity. A new round of scientific and technological revolutions and industrial changes is reconstructing the global innovation map and reshaping the global economic structure,”

China’s president continued, stating that:

“The new generation of information technology represented by artificial intelligence, quantum information, mobile communication, internet of things, and blockchain is accelerating breakthroughs in its range of applications.”

The high profile plugging of the blockchain continues the recent trend by Chinese authorities to come to grips with the technology’s capabilities. As one government spokesman said (quoted by the local media):

“We have established verifiable blockchain programs in China, and nearly 200 private enterprises have expressed interests to join. [This] will help blockchain technology and industry to become more transparent and open,”

According to some rumors present this month, the official government ratings for blockchain projects are currently in progress, following the release of 26 cryptocurrency ratings this May 17th. However, Beijing also appeared skeptical about foreign blockchain projects this week in a survey, claiming that their average lifespan is just 15 months.